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GCC, GenAI to help India’s tech sector grow to $254 billion in FY24-25: Deloitte

Economic Times · 7m

India's technology sector, including hardware, is expected to see a 3.8% YoY revenue growth to $254 billion in FY 2024-25, with exports predicted to reach $200 billion, according to Deloitte. The growth will be driven by global capability centres (GCCs), with an estimated 2,500 GCCs in India by 2030. The consultancy also highlighted spatial computing, augmented/virtual reality, and metaverse services as potential revenue generators in the hardware segment, projected to achieve $2.1 billion in revenues this fiscal year. Additionally, the report identified generative AI as a promising area, driven by sophisticated language models and automation. India's overall economic growth is anticipated to be 6.9%-7.2%, driven by the strength of its industrial sector.